Business Directories

Addoha plans $334m capital increase

Rabat, July 1, 2010

Moroccan developer Addoha will carry out a Dh3 billion dirham ($334 million) capital increase in July and existing shareholders will get preferential subscription rights, a source close to the company said.

Founder Anas Sefrioui holds 61.74 per cent of Douja Promotion Groupe Addoha and will subscribe to enough shares in the capital increase to keep a majority stake in the company, the source told Reuters on Wednesday.

'The price per share (of the capital increase) will be communicated to the market when the (financial market regulator) CDVM announces its approval for the operation,' the source said.